Impinj, Inc. (NASDAQ:PI) Shares Sold by US Bancorp DE

US Bancorp DE lowered its position in shares of Impinj, Inc. (NASDAQ:PI) by 17.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,976 shares of the company’s stock after selling 408 shares during the period. US Bancorp DE’s holdings in Impinj were worth $287,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Farther Finance Advisors LLC lifted its position in Impinj by 1,084.6% in the third quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock valued at $33,000 after acquiring an additional 141 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of Impinj in the third quarter valued at about $1,777,000. Amalgamated Bank raised its holdings in shares of Impinj by 718.3% in the third quarter. Amalgamated Bank now owns 6,702 shares of the company’s stock valued at $1,451,000 after buying an additional 5,883 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new stake in shares of Impinj in the third quarter valued at about $371,000. Finally, State of New Jersey Common Pension Fund D raised its holdings in shares of Impinj by 5.6% in the third quarter. State of New Jersey Common Pension Fund D now owns 12,207 shares of the company’s stock valued at $2,643,000 after buying an additional 644 shares during the last quarter.

Impinj Stock Down 1.9 %

Shares of Impinj stock opened at $89.42 on Friday. Impinj, Inc. has a 52-week low of $84.17 and a 52-week high of $239.88. The company’s 50-day simple moving average is $117.28 and its 200-day simple moving average is $162.67. The firm has a market cap of $2.55 billion, a price-to-earnings ratio of 65.75 and a beta of 1.98.

Impinj (NASDAQ:PI) last issued its earnings results on Wednesday, February 5th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.49). Impinj had a return on equity of 7.11% and a net margin of 11.15%. Equities research analysts anticipate that Impinj, Inc. will post -0.47 EPS for the current year.

Wall Street Analysts Forecast Growth

PI has been the subject of a number of research reports. Susquehanna reduced their target price on shares of Impinj from $260.00 to $220.00 and set a “positive” rating for the company in a report on Wednesday, January 22nd. Needham & Company LLC reduced their target price on shares of Impinj from $182.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Cantor Fitzgerald raised shares of Impinj to a “strong-buy” rating in a report on Thursday, February 27th. The Goldman Sachs Group reduced their target price on shares of Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a report on Thursday, February 6th. Finally, StockNews.com lowered shares of Impinj from a “hold” rating to a “sell” rating in a research note on Friday, January 24th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Impinj has an average rating of “Moderate Buy” and an average target price of $180.10.

Insiders Place Their Bets

In other news, CEO Chris Ph.D. Diorio sold 1,504 shares of the stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $146.22, for a total value of $219,914.88. Following the sale, the chief executive officer now directly owns 331,572 shares in the company, valued at $48,482,457.84. This represents a 0.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Cary Baker sold 1,553 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $98.76, for a total transaction of $153,374.28. Following the completion of the sale, the chief financial officer now owns 76,451 shares in the company, valued at $7,550,300.76. This represents a 1.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,323 shares of company stock worth $2,454,588. 51.00% of the stock is owned by company insiders.

Impinj Company Profile

Impinj, Inc operates a cloud connectivity platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Its platform wirelessly connects items and delivers data about the connected items to business and consumer applications. The company’s platform comprises endpoint ICs, a miniature radios-on-a-chip that attaches to a host item and includes a number to identify the item.